Emerging Markets and the World Patent Order
Show Less

Emerging Markets and the World Patent Order

Edited by Frederick M. Abbott, Carlos M. Correa and Peter Drahos

The patent has emerged as a dominant force in 21st century economic policy. This book examines the impact of the BRICS and other emerging economies on the global patent framework and charts the phenomenal rise in the number of patents in some of these countries.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 4: Rethinking the patent system from the perspective of economics

Haiyang Zhang


Pro-patent policy makers generally propagandize the patent system as an effective institution to stimulate innovation, facilitate technology dissemination, promote trade, and enhance competitiveness. However, by granting exclusive property rights, the patent system stimulates innovation, but it may also cause monopoly, which in turn results in the loss of social welfare and may impede the use and development of the patented technologies by others. Therefore, the overall role of the patent system in promoting economic development, especially for developing countries characterized by a generally low technology level, is rather ambiguous. Next, I briefly review the basic economic theories behind the patent system and the arguments for and against it put forward by many economists, followed by an introduction of some patent related economic studies and their implications for current patent institutions in developing countries. To conclude, I summarize some suggestions for policy makers in developing countries on designing and improving their patent institutions.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.